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      Question

      Consider the following statements regarding territorial

      jurisdiction and applicability of Competition Act: Statement 1: Competition Act applies only to conducts affecting Indian markets. Statement 2: Foreign entities conducting anticompetitive conduct affecting India are subject to the Act. Statement 3: Mergers involving foreign entities with operations in India require CCI approval. Statement 4: Competition Act has extraterritorial application to the extent conduct affects Indian commerce. Which statements are correct?
      A Statements 1, 2, and 3 only Correct Answer Incorrect Answer
      B Statements 2, 3, and 4 only Correct Answer Incorrect Answer
      C Statements 1 and 3 only Correct Answer Incorrect Answer
      D Statements 1, 2, and 4 only Correct Answer Incorrect Answer
      E All statements are correct Correct Answer Incorrect Answer

      Solution

      Act applies to Indian market conduct—Statement 1 is correct. Foreign entities are covered if conduct affects India—Statement 2 is correct. Foreign mergers with Indian impact require approval—Statement 3 is correct. Extraterritorial application exists—Statement 4 is correct. All statements are correct.

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